Guidelines for investing in Mutual Funds by an NRI.

Please explain the guidelines for investing in Mutual Funds by an NRI. 

For an NRI to invest, it is mandatory that he/she maintains a bank account in India.

NRIs can invest in Indian mutual funds through their NRE/NRO/FCNR accounts.

The investment has to be made only in Indian rupees. The NRI may also send a rupee cheque from abroad, payable at a bank in India. The ‘investor status' in the form should be marked as ‘NRI' and the bank details of the NRE/NRO account have to be mandatorily provided.

For an NRI to invest, it is mandatory that he/she maintains a bank account in India. AMCs do not accept an NRI application with an overseas bank account detail. NRIs should be KYC-compliant to invest in mutual funds.